HAL wins bid to manufacture ISRO's SSLV; shares rise

Hindustan Aeronautics Ltd (HAL) on Friday announced that it has emerged as the successful bidder for the manufacturing and technology design of the Indian Space Research Organisation's (ISRO's) Small Satellite Launch Vehicle (SSLV).

In an exchange filing, the state-owned defence and aerospace major said, "In terms of Regulation 30 of the SEBI (LODR) Regulations, 2015, we would like to inform that, the Company has become successful bidder for the manufacturing and design technology of the Small Satellite Launch Vehicle (SSLV), developed by ISRO."

The technology transfer package includes end-to-end capabilities -- from design and manufacturing to quality control, integration, launch operations and post-flight analysis. It also involves training and support to ensure full absorption of the technology by HAL. The company will take up the responsibility of mass production of SSLVs to cater to both domestic and international demand.

The SSLV is a low-cost launch vehicle developed by ISRO to deploy small satellites into low Earth orbit and is seen as a key offering in the growing global market for miniaturised satellite launches.

In a separate filing, HAL also informed that its Board of Directors would consider a final dividend for the financial year 2024–25 at a meeting scheduled on June 27, 2025.

Shares of HAL settled 1.46 per cent higher at Rs 4,971.95 today. At this closing price, the defence PSU has climbed 19.23 per cent on a year-to-date (YTD) basis.